The Hindu Business Line : Mankind Pharma mulls new wing

New Delhi March 29 Mankind Pharma today announced an investment of Rs 15 crore (2007-2008) to set up a marketing division called `Special Mankind' to sell its over-the-counter (OTC) products.

The company hopes to make Rs 40 crore for the year 2007-08 from this new segment alone, and plans to introduce sanitary napkins, medicated dressings, diapers and medicated shampoos to its portfolio by the end of this financial year. Mankind also hopes to launch energy drinks and a range of cosmetics soon.

"In India, the OTC market for healthcare products is likely to grow at a healthy rate of 30 per cent. Having established strong growth in the ethical market, diversification into the OTC segment was a natural extension for Mankind Pharma," said Mr R.C. Juneja, MD, Mankind Pharma. The product range would initially comprise Manforce Condoms, Unwanted 72-emergency contraceptives and Unwanted Home pregnancy kit, and will be available in the North Indian markets.

The company conducted a test launch of the products in Uttar Pradesh during the last three months, and claims to have sales of Rs 1 crore already. This, said the company, is reflective of an `underserved market' which it hopes to tap. Continuing to sell in Uttar Pradesh UP and henceforth in Jammu and Kashmir, Punjab, Haryana, Himachal Pradesh, Madhya Pradesh M.P, Gujarat, Rajasthan, Bihar, Jharkhand, Chattisgarh and Uttaranchal.

Own Production

The company is also setting up a manufacturing plant for injectibles at Ponta Sahib, Himachal Pradesh, HP with a capacity of 30 million ampoules and 30 million vials. The company hopes to start its own production from there from April this year and save at least 5 per cent of their costs. It is also setting up a R&D facility in the National Capital Region later this year, to cater to exports in the future.

More Stories on : Announcements | Strategy | Pharmaceuticals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page